- ISIN
- US33738F8822
- Issuer
- First Trust
- Inception Date
- Oct 31, 2012
- Category
- Bank Loan
- Min. Investment
- $1,000,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
FDHIX Performance Chart
First Trust Short Duration High Income Fund (FDHIX) is down 0.3% since the beginning of the year. FDHIX is currently trading at $18 per share. Investors who bought $1,000 worth of FDHIX shares 5 years ago would now be looking at an investment worth $1,215.
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Returns By Period
First Trust Short Duration High Income Fund (FDHIX) has returned -0.31% so far this year and 4.38% over the past 12 months. Over the last ten years, FDHIX has returned 4.30% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
First Trust Short Duration High Income Fund
- 1D
- 0.00%
- 1M
- 0.57%
- YTD
- -0.31%
- 6M
- 0.30%
- 1Y
- 4.38%
- 3Y*
- 6.78%
- 5Y*
- 3.97%
- 10Y*
- 4.30%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
FDHIX Monthly Returns History
Based on dividend-adjusted daily data since Nov 2, 2012, FDHIX's average daily return is +0.02%, while the average monthly return is +0.35%. At this rate, an investment would double in approximately 16.5 years.
Historically, 66% of months were positive and 34% were negative. The best month was Apr 2020 with a return of +4.0%, while the worst month was Mar 2020 at -8.4%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 6 months.
On a daily basis, FDHIX closed higher 42% of trading days. The best single day was Mar 26, 2020 with a return of +4.2%, while the worst single day was Mar 18, 2020 at -4.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.22% | -0.89% | -0.89% | 1.48% | 0.40% | -0.17% | -0.31% | ||||||
| 2025 | 1.14% | 0.14% | -0.72% | 0.37% | 1.44% | 1.20% | 0.47% | 0.97% | 0.47% | 0.44% | 0.55% | 0.61% | 7.31% |
| 2024 | -0.13% | 1.08% | 0.58% | -0.30% | 0.54% | 0.37% | 1.21% | 1.15% | 1.31% | -0.04% | 1.15% | -0.02% | 7.09% |
| 2023 | 2.69% | -0.23% | 0.34% | 0.51% | -0.50% | 1.67% | 1.04% | 1.04% | -0.56% | -0.41% | 2.63% | 1.81% | 10.41% |
| 2022 | -0.24% | -0.66% | -0.15% | -0.72% | -3.60% | -3.64% | 3.39% | 0.53% | -2.58% | 1.66% | 1.05% | -0.15% | -5.22% |
| 2021 | 0.95% | 0.53% | -0.13% | 0.28% | 0.43% | 0.43% | -0.21% | 0.35% | 0.45% | -0.11% | -0.45% | 0.99% | 3.56% |
Benchmark Metrics
First Trust Short Duration High Income Fund has an annualized alpha of 2.75%, beta of 0.11, and R2 of 0.20 versus S&P 500 Index. Calculated based on daily prices since November 02, 2012.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (20.59%) than losses (18.49%) - typical of diversified or defensive assets.
- Beta of 0.11 may look defensive, but with R2 of 0.20 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.20 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 2.75%
- Beta
- 0.11
- R²
- 0.20
- Upside Capture
- 20.59%
- Downside Capture
- 18.49%
Expense Ratio
FDHIX has a high expense ratio of 1.01%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
FDHIX ranks 38 for risk / return — below 38% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for First Trust Short Duration High Income Fund (FDHIX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FDHIX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.37 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | 2.78 | -1.33 |
| Martin ratioReturn relative to average drawdown | 5.68 | 12.44 | -6.76 |
Dividends
Dividend History
First Trust Short Duration High Income Fund provided a 5.70% dividend yield over the last twelve months, with an annual payout of $1.01 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.01 | $1.15 | $1.44 | $1.23 | $0.86 | $0.69 | $0.80 | $0.90 | $0.93 | $0.96 | $0.96 | $0.88 |
Dividend yield | 5.70% | 6.34% | 7.99% | 6.76% | 4.86% | 3.51% | 4.09% | 4.57% | 4.94% | 4.83% | 4.81% | 4.59% |
Monthly Dividends
The table displays the monthly dividend distributions for First Trust Short Duration High Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.09 | $0.00 | $0.09 | $0.09 | $0.09 | $0.00 | $0.36 | ||||||
| 2025 | $0.11 | $0.11 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.09 | $0.09 | $0.09 | $1.15 |
| 2024 | $0.13 | $0.13 | $0.13 | $0.13 | $0.13 | $0.13 | $0.13 | $0.13 | $0.12 | $0.11 | $0.11 | $0.11 | $1.44 |
| 2023 | $0.10 | $0.10 | $0.10 | $0.10 | $0.11 | $0.12 | $0.12 | $0.13 | $0.00 | $0.13 | $0.13 | $0.13 | $1.23 |
| 2022 | $0.06 | $0.06 | $0.06 | $0.06 | $0.07 | $0.07 | $0.07 | $0.08 | $0.08 | $0.08 | $0.09 | $0.09 | $0.86 |
| 2021 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.69 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the First Trust Short Duration High Income Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the First Trust Short Duration High Income Fund was 20.32%, occurring on Mar 23, 2020. Recovery took 114 trading sessions.
The current First Trust Short Duration High Income Fund drawdown is 0.42%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -20.32%Mar 2020 | 2mo 1d | 5mo 13d | 7mo 14dJan 2020 - Sep 2020 |
Bear market2022 | -9.09%Jul 2022 | 5mo 22d | 1y 1mo | 1y 7moJan 2022 - Aug 2023 |
2016 pullback2016 | -6.40%Feb 2016 | 8mo 14d | 2mo 18d | 11mo 2dJun 2015 - Apr 2016 |
Rate-hike selloffLate 2018 | -4.27%Dec 2018 | 2mo 24d | 1mo 24d | 4mo 18dOct 2018 - Feb 2019 |
2026 pullback2026 | -3.21%Mar 2026 | 2mo 18d | — | 5mo 16dJan 2026 - now |
Drawdown Indicators
| FDHIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.32% | -56.78% | +36.46% |
Max Drawdown (1Y)Largest decline over 1 year | -3.21% | -9.10% | +5.89% |
Max Drawdown (3Y)Largest decline over 3 years | -3.21% | -18.90% | +15.69% |
Max Drawdown (5Y)Largest decline over 5 years | -9.09% | -25.43% | +16.34% |
Max Drawdown (10Y)Largest decline over 10 years | -20.32% | -33.92% | +13.60% |
Current DrawdownCurrent decline from peak | -0.42% | -1.80% | +1.38% |
Average DrawdownAverage peak-to-trough decline | -1.06% | -10.71% | +9.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 2.03% | -1.23% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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